LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global influenza diagnostics market 2017-2021 is expected to grow at a CAGR of close to 8% during the forecast period.
This research report titled ‘Global Influenza Diagnostics Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Srinivas Sashidhar, a lead analyst at Technavio for in-vitro diagnostics research, “The global influenza diagnostics market is expected to grow at a moderate pace during the forecast period owing to numerous factors such as endemic and pandemic outburst of influenza disease, increasing public awareness, rapid technological innovations and increased government support towards curbing the disease.”
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The market research analysis categorizes the global influenza diagnostics market into three major product segments. They are:
- Molecular diagnostics
The market is growing steadily because of the high volume of immunodiagnostic tests being performed due to increased demand for influenza disease test sample analysis. Consumers are opting for automated instruments that have high speed, reduce turn-around time, and provide high quantitative results over manual testing methods. Currently, automated immunoassay analyzers are preferred over manual testing analyzers as integrated immunoassay systems allow analysis of various samples at the same time at high speeds.
“Automated instrumentation is highly efficient as it leads to optimal utilization and reduced consumption of reagents,” says Srinivas.
Point-of-care testing market for influenza is driven by the growing use of POCT in disease screening and initial diagnosis. The growing popularity of POCT can be attributed to rapid turnaround time for results and connected POCT units integrated with data management solutions. The POCT segment is a major contributor to the market share in the Americas with companies like Alere having a strong presence in that region.
In Western Europe, rising cost pressures on healthcare systems, regulatory requirements, and reimbursements for tests are some of the factors driving the decentralization of laboratory testing producing a favorable opportunity for POCT.
Molecular diagnostic tests detect an individual’s or infecting pathogen’s DNA or RNA and employ technologies like polymerase chain reaction (PCR), microarray, sequencing, and next-generation sequencing (NGS). Molecular tests are performed in high-complexity and medium-complexity laboratories. Additional drivers include a need for greater automation to optimize productivity, minimize errors, and improve time to results.
Key application areas that will sustain the growth of this product segment include the need for control of influenza disease during endemic or pandemic spread of disease. Although the demand for this product segment is growing and market participants are expanding their global presence, some of the molecular diagnostic tests were too expensive to be integrated into healthcare systems of developing economies in 2016.
The top vendors highlighted by Technavio’s healthcare and lifesciences market research analysts in this report are:
- Becton Dickinson
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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